Americas Petrogas is pleased to provide an update on its Los Toldos Este well, LTE.x-1, a vertical well that was drilled on the Los Toldos II block. The Los Toldos Este well, LTE.x-1, which completed drilling earlier in 2012, intersected the Vaca Muerta formation (thickness 343 metres) as expected. The well was hydraulically stimulated with five stages in the Vaca Muerta formation in September. The initial flow rate of the Vaca Muerta formation, after the clean-up flow back, at depths between 2,795 to 3,065 metres was 797 barrels of oil equivalent per day (boepd) of which 694 barrels of oil per day (bopd) was high quality light sweet oil, 39.6 degrees API. The average flow rate for the initial 30 days was 309 boepd, of which there was 254 bopd. Two production flow tests were also conducted to determine the productivity of the perforated intervals. This, in addition to core and other studies, will help the broad evaluation of the future productivity and the potential of the well and the reservoir. Currently the well is shut-in for a pressure build-up test.
Mr. Barclay Hambrook, President and CEO of Americas Petrogas said,“We are excited about these initial test results of the Vaca Muerta in the LTE.x-1 vertical well. These results reinforce our belief in the potential for the Los Toldos II block.” Americas Petrogas is the Operator of the Los Toldos blocks and holds a 45% working. ExxonMobil also owns a 45% working interest with the remainder held by Gas y Petroleo del Neuquen.
